Daily Highlights: 8.24.09

• Argentina to offer swap for $2.3B of inflation-linked debt, as export revenues slump.
• Asian stocks advance on recovery hopes, strong earnings lend support.
• Auto worker retirees may get help from $10 billion in U.S. Health Proposal
• Average price of regular gasoline at filling stations slipped to $2.6417 a gallon
• China commercial-property sales in H1 worth more than US, UK deals combined.
• Crude oil futures in Asia continued to consolidate on Friday's gains
• ECB warns of 'bumpy road ahead' as officials signal no stimulus exit soon.
• Fed officials at its annual retreat voiced support for a second term for Bernanke.
• Iraqi officials to market additional oil fields later this week.
• Japan’s LDP faces crushing defeat, says poll.
• Japanese stocks rose, lifting the Nikkei 225 Stock Average to its biggest jump
• Waxman-Markey Climate Bill to harm US refining industry - study.
• AGL Energy to spend A$6-A$7B on renewable energy projects over the next decade.
• AIG wins dismissal of suit seeking $1B for worker's compensation
• AnnTaylor Stores swung to Q2 loss of $18M as revs fell 21% to $470.2M.
• AP Moller Maersk swings to H1 loss of $702.8M; expects weak freight rates for rest of 2009.
• Apple Inc. said it has not rejected Google Voice application, continues to study it.
• AutoNation stops offering Cash for Clunkers early, to clear deals before govt deadline.
• Boeing Co. bags $1.16B US military contract to support the C-17 Globemaster program.
• China Construction Bank posted a smaller-than-expected 5% decline in H1 net at $8.2B.
• Chinalco willing to talk with Rio Tinto for cooperation in bauxite, alumina prodn.
• Citi restarts efforts to sell Japanese call center Bellsystem24.
• GM needs to 'urgently' decide on Opel's future: Merkel.
• JM Smucker's Q1 net rises 132% to $98.1M; cites acquisition of Folgers coffee brand.
• Knoll Inc. announces filing of universal shelf registration statement of up to $300M.
• Powertech Technology to pay $51M for Spansion's Suzhou Unit.
• Sinopec's H1 net more than quadruples to $4.87B; revs down 27%.
• Toyota hikes US prodn of 4-cylinder engines by adding capacity at Alabama plant.
• Toyota recalls 688,314 cars - biggest yet in China - on technical faults.
• Warner Chilcott said to plan $3.1B P&G prescription drug-unit deal.

Earnings Calendar: ARAY, NED, NPD, PMRY, SNP, VIMC, WINN.

Recent Egan-Jones Rating Actions:
NORDSTROM INC (JWN)
MORGAN STANLEY (MS)
BANK OF AMERICA CORP (BAC)
CITIGROUP INC (C)
FLEXTRONICS INTERNATIONAL LTD (FLEX)
FOOT LOCKER INC (FL)
UNIVERSAL HEALTH SERVICES INC (UHS)
BALDOR ELECTRIC CO (BEZ)
GAP INC/THE (GPS)
ETHAN ALLEN INTERIORS INC (ETH)
TECH DATA CORP (TECD)
CONSTELLATION ENERGY GROUP INC (CEG)
KEYCORP (KEY)

Data provided by Egan-Jones Ratings And Analytics

Comments

[Anonymous]

Hey Cheeky Bastard -- you changed your avatar from the Obama Joker graphic to some bearded dude - was that voluntary?

[Anonymous]

Just heard this data re the Cash for Clunkers Program:

80% of auto purchases are foreign models
80% of trade-ins are US models

The good news is that the US cannot be accused of protectionism.

[Anonymous]

9:29 ET.
Guidance is internal.
All Xeon's running.
Commit.
Prepare for liftoff.
10, 9, 8, 7, 6, 5, 4, 3, 2, 1

[They steal from...]

Not sure if this is a daily highlight or a daily lowlight:

Obama commits a series of impeachable offenses.  First he takes a massive bribe from healthcare and lies about it to the public for months:

http://www.huffingtonpost.com/2009/08/13/internal-memo-confirms-bi_n_258...

Then he loots the taxpayer and lies about that:

http://gatewaypundit.blogspot.com/2009/08/breaking-white-house-confirms-...

Yet all we hear out of the media is bullshit and excuses why he can't sell us Obamacare.  Because its a fucking scam, thats why.